핵심요약

• 스페이스X는 약 일주일 만에 시가총액 2조 달러에 도달하며 아마존을 briefly 추월했습니다.
• 3월 31일 기준, 스타링크는 1030만 명의 구독자를 보유하며 전년 대비 106% 증가했습니다.
• 연결성 사업은 114억 달러의 수익을 기록하며 총 매출의 61%를 차지했습니다.
• 스페이스X는 연결성 사업의 총 주소 가능한 시장 규모를 1.6조 달러로 예상하며, 인공지능 분야에서는 26.5조 달러의 잠재력을 보고 있습니다.

도입

이 기사는 투자자에게 스페이스X와 아마존 중 어떤 기업이 더 나은 투자 대상이 될 수 있는지 비교 분석하는 중요한 내용을 담고 있습니다. 스페이스X는 최근 시가총액 2조 달러에 도달하며 아마존을 briefly 추월한 바 있으며, 스타링크와 같은 혁신적인 사업 모델이 주목받고 있습니다. 이 분석을 통해 투자자는 두 기업의 성장 잠재력과 리스크를 평가할 수 있을 것입니다.

본문 1: 스타링크의 성장과 수익성

스타링크는 3월 31일 기준 1030만 명의 구독자를 보유하며 전년 대비 106% 증가했습니다. 이는 연결성 사업이 스페이스X의 주요 수익 원천임을 보여주며, 114억 달러의 수익을 기록하며 총 매출의 61%를 차지했습니다. 이 높은 성장률은 스타링크가 저궤도 위성 네트워크를 통해 고속 인터넷 서비스를 제공하며 시장 점유율을 확대하고 있음을 의미합니다. 이는 스페이스X의 재무 건전성을 강화하는 중요한 요소로 작용할 수 있습니다.

본문 2: 인공지능과 우주 탐사 사업의 잠재력

스페이스X는 인공지능 분야에서 26.5조 달러의 잠재력을 보고 있으며, 이는 연결성 사업의 1.6조 달러 시장 규모를 크게 상회합니다. 인공지능 인프라 사업에 대한 대규모 투자는 장기적인 성장 동력으로 작용할 수 있으며, 우주 탐사 사업에서도 차세대 재사용 가능한 로켓 개발을 통해 수익성과 마진을 크게 향상시킬 가능성이 있습니다. 이는 스페이스X가 다양한 사업 분야에서 안정적인 수익을 창출할 수 있는 잠재력을 가지고 있음을 보여줍니다.

결론

스페이스X는 스타링크의 높은 성장률과 인공지능, 우주 탐사 사업의 잠재력을 바탕으로 장기적인 성장 가능성이 높은 기업입니다. 그러나 투자자는 시장 경쟁과 기술 리스크를 고려하여 신중하게 평가해야 할 필요가 있습니다. 향후 스페이스X의 재무 성과와 시장 동향을 주시하는 것이 중요할 것입니다.

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원문 링크: https://www.fool.com/investing/2026/06/25/is-spacex-a-better-buy-than-amazon/?.tsrc=rss

Is SpaceX a Better Buy Than Amazon?

It took Amazon ( AMZN +0.05% ) about 27 years as a publicly traded company to reach a market cap of $2 trillion. Space Exploration Technologies ( SPCX 0.97% ) got to that milestone in about a week. In fact, SpaceX briefly overtook Amazon as the fifth-largest corporation on the market, although as of this writing, the e-commerce specialist is back ahead. Clearly, many investors have incredibly high hopes for SpaceX, but is the aerospace manufacturer a better buy than Amazon? Let's find out.

Image source: The Motley Fool.

SpaceX is shooting for the moon

SpaceX may be a newbie on equity markets, but the company is well-known within its industry and has helped revolutionize space travel by pioneering reusable rockets. SpaceX dominates this field. In 2025, it had more successful orbital launches (by a mile) than any of its competitors. That said, SpaceX's most profitable business isn't space travel. That title goes to Starlink, which provides high-speed broadband through a network of Low Earth Orbit satellites.

As of March 31, Starlink had 10.3 million subscribers, up 106% year over year. And last year, SpaceX recorded $11.4 billion in connectivity revenue, which accounted for almost 61% of its top line. It was also the only one of SpaceX's segments that was profitable; it generated an income from operations of about $4.4 billion, more than doubling compared to the year-ago period.

SpaceX has high hopes for its connectivity business, where it estimates a $1.6 trillion total addressable market that dwarfs its current revenue. Further, the company's two other segments -- space and artificial intelligence (AI) -- could also eventually contribute meaningfully to the bottom line. SpaceX is working on a next-gen, fully reusable rocket that could help it significantly boost profits and margins within its space business. SpaceX is also investing heavily to scale its AI infrastructure business.

The company sees an even larger opportunity in AI, which it estimates at $26.5 trillion. SpaceX may not be consistently profitable, but its innovative qualities, aggressive vision for the future, and large addressable market may allow the stock to deliver life-changing returns over the long run.

Amazon has lagged the S&P 500 over the past 12 months, but the company's prospects remain attractive. Though it has helped pioneer industries such as e-commerce and cloud computing , there is still a large addressable market for the tech leader in both, and it has established a wide moat thanks to its brand name, network effects, and switching costs.

Amazon is actively seeking ways to improve profitability, notably by deploying AI-powered robots in its warehouses to boost efficiency and cut costs. E-commerce remains Amazon's largest source of sales, but this business has low margins. That could change over the next decade thanks to the company's ongoing efforts. Amazon's bottom line will also benefit from the company's ramp-up of its high-margin advertising business.

Further, Amazon is constantly tapping into new growth opportunities. Earlier this year, it announced that it would open up its logistics network to other corporations through a new initiative called Amazon Supply Chain Services (ASCS). The company is also apparently in talks to sell its Trainium custom AI chips. They may not be as versatile as the market-leading GPUs ( Graphics Processing Units ), but they are highly performant for specific AI workloads and are more cost-effective than comparable GPUs.

That's why this could be a highly successful initiative for Amazon. In short, Amazon generates consistent revenue, earnings, and cash flow, and has attractive long-term growth avenues and a strong competitive edge. All of these factors make the stock a great pick for investors.

If we just focus on both companies' financial results, there is no contest between the two: Amazon is the winner by a wide margin.

SPCX Revenue (Annual) data by YCharts

However, the market is valuing SpaceX at levels similar to Amazon because, if the former's master plan comes to fruition, it will generate incredible returns. But it's important to remember that the company could face significant roadblocks, including mounting competition. SpaceX is also subject to significant regulatory and geopolitical risks given its reliance on government contracts for revenue. Any kink in the company's armor could trigger a sell-off, considering the high expectations the market has already placed on SpaceX.

Those comfortable with the risk and volatility, and who believe that Elon Musk, the CEO of SpaceX, can successfully steer the company toward its goals, should definitely opt for SpaceX over Amazon. More skeptical investors would be better off picking Amazon. The e-commerce leader has a reliable business that is less risky than SpaceX, and still looks likely to generate outstanding returns over the long term.

Source: https://www.fool.com/investing/2026/06/25/is-spacex-a-better-buy-than-amazon/?.tsrc=rss